Hey Michael. We have found that best practice is to install the same SM version on the new server that you have on the current server, do the migration to the new server, then upgrade to the latest SM version.
Were you wanting more details on the actual migration process itself?
Linda Pagillo
Mail's Best Friend
Email: linda.pagillo@mailsbestfriend.com
Web: www.mailsbestfriend.com
Authorized SmarterTools Reseller
Authorized Message Sniffer Reseller